I would like to create a pair of "Goggles of Gem Location."
This would use Locate Object, and the formulas straight up would be
Use-Activated Continuous: Spell level x caster level x 2,000 gp
Spell level for Locate Object is 2.
Minimum caster level for a 2nd level Wizard spell is 3.
2 x 3 x 2000 = 12,000gp
6000gp to construct.
However this would produce a very useful item, that could be used to locate any specific item or the nearest example of a general type of item within 520 feet, at will.
Limiting its use, immutably, to only the nearest gem should imply some divisor on the cost.
My question is: "What should, in your opinion, that divisor be?"